Guarantee Fund starts liquidation of Petrokommerz-Ukraine Bank

Monday, April 25, 2016 - 15:30 (EEST) Section: Latest news

The Individuals` Deposit Guarantee Fund has launched the procedure of liquidation of Petrocommerz-Ukraine bank, according to the decision of the National Bank to revoke the banking license and liquidation of this financial institution.
As reported on the website of the Fund, the liquidation of Petrocommerz-Ukraine will last for two years  until April 21, 2018, inclusive. The liquidator appointed for the same period is Oleksandr Huley.
The Fund has promised to announce the beginning of payments to depositors of the bank on its website, reminding that payments are carried out in the amount of the deposit, including the interest accrued as of the date of the introduction of a provisional administration in the bank, but in the amount not exceeding UAH 200,000.
It also reported that the bank`s creditors `claims are accepted within 30 days from the date of publication in the newspaper Holos Ukrainy of the announcement on the bank`s liquidation, while the satisfaction of creditors` claims will be provided at the expense of funds received from the sale of the bank`s assets in the established order.
As UNIAN reported earlier, the National Bank of Ukraine on the proposal of the Individual Deposit Guarantee Fund has decided to revoke the license and liquidate Petrocommerz-Ukraine bank. Earlier, on March 18, the NBU has recognized the bank insolvent, and therefore the Guarantee Fund has entered into a temporary administration over the bank.
The bank  has operated in Ukraine since 1996, being a small financial institution in terms of assets. The main shareholder of the bank prior to the questionable transactions with its shares in March 2015 was a Russian-based Petrocommerz bank, which owned a 96.48% stake in the bank.
At the time of recognition of the bank insolvent, the NBU has identified as owners of significant participation Ivan Shehavtsov and Oleksiy Krupiy, because, irrespective of the formal ownership, they carried out a decisive influence on its management and activities between March 2015 and February 2016.